Aggregate income is applied to individual income tax, foreign companies may use the word “China” in its names and four industries will be opened for power deregulation.
The negative list for foreign investment is relaxed, foreigners are encouraged to invest in the A-share market and insurance companies are required to include independent directors.
FTZ negative list is revised, establishment of financial asset investment companies is specified, commissioned offshore R&D expenses may be super-deducted and enterprises are restricted from purchasing housing in Shanghai.